ExxonMobil claims high prices unjustified but yet cannot find new oil prospects

– Even as oil prices flirt with record highs, a growing number of people in the energy industry, including the chairman of Exxon Mobil, are voicing concern over whether the soaring oil prices are justified by supply-and-demand conditions in the market.

Some are even comparing the trading in energy markets to the speculative frenzy in technology stocks in the late 1990’s. http://www.nytimes.com/2005/03/15/business/15oil.html

http://www.nytimes.com/2005/03/15/business/15oil.html